VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 6, 2011) - Southern Arc Minerals Inc. (TSX VENTURE:SA) is pleased to announce the commencement of a helicopter magnetic and radiometric survey over its entire West Lombok property. The survey plans to define both near-surface and buried copper-gold porphyry targets within the 13km by 7km Selodong-Mencanngah-Pelangan mineralized structural corridor. The detailed geophysical survey is being flown by GPX Surveys and will total some 2,420 line kilometres, with North/South oriented flight lines flown at 50m spacings over the entire property.
Newmont Mining, the previous tenement holder, flew regional airborne magnetic and radiometric surveys with line spacings ranging from 200m to 1000m. Southern Arc's magnetic inversion modeling of the Newmont data identified a number of near-surface magnetic anomaly targets. These magnetic anomalies coincide with structural intersections, locally elevated gold-copper-molybdenum soil geochemistry, and porphyry lithocap-related alteration assemblages that have been confirmed by clay spectral analysis. Geological mapping has also identified associated porphyry-style quartz stockwork veining at some of these localities. The combination of these features are interpreted as being related to both near-surface and deeper intrusive stocks with related porphyry-style alteration and mineralization. The detailed geophysical survey is expected to further refine these targets for drilling while identifying additional targets in the area.
The data acquisition phase of the survey is expected to be completed within the next 7 to 10 days and the new geophysical data will then be modeled and interpreted by leading geophysical consultants using state of the art processing methods. Southern Arc will also undertake Induced Polarization (IP) and resistivity ground geophysical surveys to further refine selected porphyry copper-gold targets that are to be drill tested in late Q4-2011, following the current drill campaign that is testing the strike length of gold-bearing epithermal mineralized structural breccia bodies at the Mencanggah prospect.
On behalf of the Board of Directors
John Proust, Chairman and CEO
About Southern Arc
Southern Arc Minerals Inc. is an Indonesia-based Canadian mineral exploration company with an aggressive exploration, acquisition and growth strategy. The Company's portfolio includes four exploration projects with epithermal gold and gold-copper porphyry prospects on the Lombok and Sumbawa islands in Indonesia, three of which are being advanced in partnership with major mining companies Vale and Newcrest. The Company's key exploration property is its West Lombok project, with several gold-rich copper porphyry and epithermal gold vein prospects. Southern Arc is listed on the TSX Venture Exchange under the symbol SA. More information is available at www.southernarcminerals.com or by emailing info@southernarcminerals.com.
Forward-looking Statements
This news release contains forward-looking statements relating to expected or anticipated future events and operations, timing of projects and anticipated results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, the regulatory process and actions, technical issues, new legislation, competitive and general economic factors and conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events, and the company's capability to execute and implement future plans. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. There is no representation by the company that actual results achieved during the forecast period will be the same in whole or in part as that forecast.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Southern Arc Minerals Inc.
Rhylin Bailie
Vice President, Communications & Investor Relations
604-676-5241
Fax: 604-676-5246
info@southernarcminerals.com
www.southernarcminerals.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
INDUSTRY: Manufacturing and Production - Mining and Metals
SUBJECT: MEX - MINING EXPLORATION UPDATE
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Southern Arc Minerals Inc.
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CODE : SA.V |
ISIN : CA8422001070 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Southern Arc est une société d’exploration minière d'or basée au Canada. Southern Arc détient divers projets d'exploration en Indonesie. Ses principaux projets en exploration sont SELODONG, WEST LOMBOK et EAST LOMBIK en Indonesie. Southern Arc est cotée au Canada. Sa capitalisation boursière aujourd'hui est 13,6 millions CA$ (10,2 millions US$, 8,7 millions €). La valeur de son action a atteint son plus haut niveau récent le 31 décembre 2007 à 2,48 CA$, et son plus bas niveau récent le 22 novembre 2013 à 0,03 CA$. Southern Arc possède 15 230 000 actions en circulation. |